(Yicai Global) Aug. 22 -- Sun Fang, former vice general manager at JPMorgan Chase's mutual fund joint venture in China, will join Ping An Asset Management this week at the earliest, according to an insider.

Sun will "mostly take care of the investment division business" at the Shanghai-based asset management firm, the insider said to Yicai Global. Sun left China International Fund Management on Aug. 18 for personal reasons, according to a staff change notice.

The former vice GM was picked as her work experience and performance matched Ping An AM's demand, which is about the talent of being able to allocate big and long-term assets, the source said. That should involve being capable of achieving long-term gains, the person added.

Ping An AM had CNY4.05 trillion (USD593 billion) in assets under management as of Dec. 31, 2021, according to the annual earnings report of its parent, Ping An Insurance Group Co. of China, a major insurer in the country.

Sun has almost two decades of experience in the fund industry. She joined CIFM in December 2006. She had four funds with a total size of more than CNY6.4 billion (USD937.1 million) under management. The best-performing one had a return on investment of almost 500 percent during her tenure. The annualized ROI exceeds 20 percent, based on public data.

Sun, who has rich experience in investing in equity, fixed-income, and other assets, can consolidate Ping An AM's overall capabilities in investment and research, the insider predicted.

Asset managers all value executives' product and team management skills, a fund researcher told Yicai Global.

CIFM was jointly set up by Shanghai International Trust and JPMorgan Asset Management in 2004.

Editors: Tang Shihua, Emmi Laine, Xiao Yi